The Singapore court has ruled that Terraform must compensate the appealing investors a total of over $3 million.

BlockBeats News, June 29th, according to Bloomberg, the Singapore International Commercial Court ruled in a fraud case related to the 2022 TerraUSD stablecoin collapse that Terraform Labs Pte Ltd and its founder, Do Kwon, must compensate 40 plaintiffs.

These plaintiffs collectively received over $3 million in damages, marking the conclusion of the second phase of the case. The case involved a total of 275 investors who claimed losses due to the UST cryptocurrency collapse. The court stated that the compensation amount was calculated based on the plaintiffs' UST holdings and the duration of their holdings.